Falkirk in UK housing deposit top ten as residents are quick to jump on the property later

A new study by Cala Homes shows potential house buyers in Falkirk need 5.2 years before they can save enough cash to take the first step on the property ladder – compared to residents in London, who would need 37.5 years.

The research looked at the median weekly salary in over 130 UK towns and cities and worked out how long it would take a single person to save for a 10 per cent deposit for the median house price in the same area.

Falkirk’s median detached house price of £162,340 and a median weekly wage of £605.60 mean it would take a single person around five years and 73 days to save for a 10 per cent deposit.

This compares to just five years for Stirling, five years and 256 days for Glasgow and four years and 293 days for Edinburgh.